{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-019739","form_type":"8-K","ticker":"NTAP","cik":"0001002047","company_name":"NetApp, Inc.","filed_at":"2023-01-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:43.404363+00:00","generated_at":"2026-06-20T04:40:51.565582+00:00","sec_items":["2.05","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"NetApp to cut ~8% of workforce; expects $85-95M in restructuring charges","bullets":["Workforce reduction of ~8% globally, substantially implemented by Q4 FY2023.","Expects aggregate charges of $85M to $95M, primarily severance and benefits.","Majority of charges expected to be cash expenditures in Q3 fiscal 2023.","CEO George Kurian cites macroeconomic challenges and reduced IT spending.","Realignment aims to sharpen strategy and prioritize growth opportunities."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-019739","json":"https://secwatch.observer/filing/0001193125-23-019739.json","markdown":"https://secwatch.observer/filing/0001193125-23-019739.md","text":"https://secwatch.observer/filing/0001193125-23-019739.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/0001193125-23-019739-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/d395436d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T04:40:51.565582+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"671765abfbfa53fae2a243d98894d3004f0481d0","claim":"NetApp, Inc. announced a restructuring with charges of approximately $85 to $95 million (approximately 8%).","evidence_excerpt":"in workforce is expected to be substantially implemented through the end of the fourth quarter of fiscal 2023. The Company expects to incur aggregate charges of approximately $85 to $95 million consisting primarily of employee severance and benefit costs associated with the restructuring. The Company expects that most of these charges will be cash","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/1002047/000119312523019739/0001193125-23-019739-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"approximately $85 to $95 million"},{"label":"Headcount","value":"approximately 8%"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}